Apple stands as a global technology titan, and Ronald Wayne’s decision to leave it, makes it one of the biggest missed opportunities in the business world.
Apple, the tech giant known for its iconic iPhones and iPads, is now valued at $3.858 trillion, a figure which is greater than the GDP of many countries. While Apple’s founder Steve Jobs and Steve Wozniak’s story is well known to all, many are unaware of the story of Ronald Wayne, a lesser-known co-founder who missed the biggest opportunity in the world.
Ronald Wayne’s 10% Stake in Apple
Ronald Wayne co-founded Apple in 1976 alongside Steve Jobs and Steve Wozniak. At 42, Wayne was significantly older than Jobs (25) and Wozniak (21). He used to oversee mechanical engineering and documentation. For his contributions, Wayne was granted a 10% stake in the company.
Today, that 10% stake would be worth a staggering $385 billion, placing Wayne behind only Elon Musk, whose net worth is $451 billion, and far ahead of Jeff Bezos, who sits at $244 billion.
Partnership Lasted For 12 Days
Wayne’s confidence in Apple faltered after only 12 days. Concerned about the risks associated with Jobs’ loans, including a $15,000 loan to fund the company, Wayne feared personal financial liability if the business failed. Unlike Jobs and Wozniak, Wayne owned assets such as a house and was unwilling to risk losing everything.
In a bid to protect himself, Wayne removed his name from Apple’s contract and sold his 10% stake to Jobs and Wozniak for just $800.
Wayne Says ‘No Regrets’
Despite the astronomical value of his former shares, Wayne insists he has no regrets about his decision. “I would have spent the next 20 years in the documentation department reviewing papers,” he said in a later interview. “I was over 40, and they were in their early 20s. For me, it was like being the tail of a lion.”
Missed Second Opportunity
In 1976, Wayne retained Apple’s original founding contract. However, in 1990, he sold it for just $500, believing it had no future value. In 2011, that same contract was auctioned for $1.59 million. Reflecting on the loss, Wayne admitted, “The contract had been sitting in my drawer collecting dust. I thought, what use is it to me?”
